NEW YORK (CNN) – A new survey of consumers by Bankrate finds Americans have increasingly lighter wallets and that’s by choice.

With more options to pay by credit card, debit card, or Smartphone app, Bankrate found 78 percent of consumers carry less than $50 in cash with them on a daily basis, 40% carry less than $20 in cash, and 9% said they don’t carry any cash at all.

Despite the holiday season security breaches that took place at some major national retailers, consumers don’t appear deterred from the convenience of swiping a card at checkout, as opposed to first retrieving cash from an ATM.

To keep certain transactions secure, Bankrate recommends using credit cards versus a debit card. Credit cards offer consumers greater protection in the event of fraud. When making a debit transaction, opt to use a signature instead of a pin number.

Switch out passwords frequently and vary them. Using the same one for online accounts and payment apps can leave you vulnerable if a hacker gets access to even one account.